This paper comments on the increase in LTV ratios experienced in a number of countries in the years preceding the financial crisis. Highlighting the capital structure of housing investments and the excess return to housing ...

This paper investigates the relevance of traditional trade-exchange rate theo-
rem for developing countries facing sunk entry costs in international markets.
First the theorems analysing pricing of tradable goods and the ...

Despite its strong theoretical position when it comes to explaining inflation in transition economies, the empirical merits of the Balassa-Samuelson (B-S) effect are weak. This paper points to three theory-based contributing ...

One quarter of all schoolchildren in Latvia go to the publicly funded minority (predominantly Russian) schools. In 2004, the language of instruction in minority schools was changed from essentially minority language to a ...

This paper comments on mortgage procyclicality. A framework for credit constraints along the lines of Kiyotaki and Moore (1997) illustrates the potential regime shift in the credit risk assessments of mortgagees. Depending ...

This article comments on the industrial structure of developing countries’ export processing free zones (EPZ). As developing countries are exposed to irrecoverable entry costs in international markets, the relationship ...

For many years, universities have been regarded as operating isolated from their socioeconomic and political environment. However, there is now a demand for universities to verify their relevance to society. This paper ...

This paper relates the housing market structure and the intensity of equity induced up-trading between market segments to the equilibrium ratio between house prices and household income (PTI-ratio). When fed back into the ...

We explore the attitudes towards joining the EU in post-independence Kosovo, focussing particularly on the potential role of gender, ethnicity and migration. The study is based on a survey of 1367 respondents carried out ...

Housing markets reflect our housing consumption profile over the life cycle. As we age, marry and have kids, we seek larger dwellings and to a greater extent owner-occupied housing. The up-trading process has two key ...

This paper analyses price-rent ratios under different housing career structures. A housing market with three segments for owner-occupation and a segment with rental housing is applied while a housing career is characterised ...

This paper applies and extends the Scandinavian Model of Inflation for analysing determinants of inflation in Latvia. In recent years high inflation has been a persistent problem for advocates of Latvian participation in ...